GrafTech International Ltd (EAF) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its stake in GrafTech International Ltd (NYSE:EAF) by 741.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,283,800 shares of the company’s stock after purchasing an additional 1,131,251 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.44% of GrafTech International worth $14,686,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Macquarie Group Ltd. increased its stake in GrafTech International by 61.0% in the 3rd quarter. Macquarie Group Ltd. now owns 258,856 shares of the company’s stock worth $5,050,000 after purchasing an additional 98,088 shares during the period. Reinhart Partners Inc. increased its stake in GrafTech International by 37.3% in the 4th quarter. Reinhart Partners Inc. now owns 217,640 shares of the company’s stock worth $2,490,000 after purchasing an additional 59,150 shares during the period. Jane Street Group LLC purchased a new position in GrafTech International in the 3rd quarter worth approximately $277,000. First Manhattan Co. increased its stake in GrafTech International by 71.2% in the 4th quarter. First Manhattan Co. now owns 652,300 shares of the company’s stock worth $7,462,000 after purchasing an additional 271,350 shares during the period. Finally, Brookfield Asset Management Inc. purchased a new position in GrafTech International in the 3rd quarter worth approximately $4,476,376,000.

Shares of EAF traded up $0.06 during mid-day trading on Friday, hitting $11.74. 1,182,568 shares of the company’s stock traded hands, compared to its average volume of 1,244,034. GrafTech International Ltd has a 1 year low of $10.27 and a 1 year high of $24.36. The stock has a market capitalization of $3.62 billion and a PE ratio of 4.09.

GrafTech International (NYSE:EAF) last posted its earnings results on Friday, February 8th. The company reported $0.79 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.08. GrafTech International had a negative return on equity of 100.98% and a net margin of 45.06%. The firm had revenue of $532.80 million for the quarter, compared to analysts’ expectations of $487.67 million. GrafTech International’s revenue for the quarter was up 176.8% compared to the same quarter last year. As a group, analysts forecast that GrafTech International Ltd will post 2.87 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, February 28th were issued a $0.085 dividend. This represents a $0.34 annualized dividend and a yield of 2.90%. The ex-dividend date was Wednesday, February 27th. GrafTech International’s dividend payout ratio (DPR) is 11.85%.

A number of equities analysts have commented on the company. Zacks Investment Research cut GrafTech International from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 13th. Citigroup cut GrafTech International from a “buy” rating to a “sell” rating and set a $13.93 target price on the stock. in a research note on Monday. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $23.70.

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GrafTech International Company Profile

GrafTech International Ltd. researches, develops, manufactures, and sells graphite and carbon based products worldwide. It offers graphite electrodes, which requires for the production of electric arc furnace steel, ferrous, and non-ferrous metals; and petroleum needle coke, a crystalline form of carbon used in the production of graphite electrodes.

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Institutional Ownership by Quarter for GrafTech International (NYSE:EAF)

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